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domingo, 25 de septiembre de 2011

THE NEW YORK TIMES .-Amid Warning Signs, Hints That Europeans May Step Up Action

QUOTE

“We presented a communiqué yesterday. I’m not going to repeat it,” the French finance minister, François Baroin, told a reporter who asked why Europe was not announcing new steps this weekend. “We have a method, a strategy, a calendar, nothing else to add.”

Some officials from nations outside the European monetary union defended that schedule.

“The euro zone has six weeks to resolve this political crisis,” said George Osborne, the chancellor of the Exchequer in Britain. “People are aware that time is running out.”

But there is growing concern that November, when the leaders of major economies are scheduled to gather at a Group of 20 summit meeting in France, may not be soon enough.

“They don’t have six weeks,” said Mohamed A. El-Erian, chief executive of Pimco, the world’s largest bond manager. He said fear had reached the very core of the 17-nation group that uses the euro currency, with the price of insurance on German debt rising substantially this week.

“The light already is flashing yellow,” Mr. El-Erian said. “They can’t allow it to flash red. You have to give people a vision of what you want the euro zone to look like.”